Total seeks strategic position in Brazilian natural gas market

Valor Econômico

Total gets ready to start producing its first oil and gas in Brazil in the coming months. Amid the debate on the new regulatory framework for the industry, the French company plans to "position itself" in the Brazilian natural gas market in the next few years, said Wednesday Maxime Rabilloud, Total’s general director in Brazil. He praised the National Petroleum Agency’s proposal to retroact the new percentages of local content to the current contracts. If confirmed, the more flexible local-content policy can reduce the breakeven of Brazilian assets by about $7. "It's a lot. It helps to unlock investments," he said.